Section 7: Powers of the Office.

(1) The Office shall have power to-
(a) issue and manage Federal Government loans publicly issued in Nigeria upon such terms and conditions as may be agreed between the Federal Government and the Office;
(b) issue, from time to time, guidelines for the smooth operation of the debt conversion programme of the Federal Government; and
(c) do such other things which in the opinion of the Board relate to the management of the external debts of the Federal Government.